This is an example of a triangle pattern on a 4 hour chart, we are probably within 12 hours or so of a breakout. Direction is a tough call since the longer term trend is higher, but on this chart we have been trending lower the last couple weeks. However, since the NZD has been trading relatively heavy against most currencies, there is a stronger possibility of a down move.

Breakout points are 87.70-88.15

Blake Morrow

Chief Currency Strategist, Wizetrade